Dow up 0.12%, Nvidia gains 2.27% at $229.52
The major US indices are higher, with the Dow up 0.12%, the S&P up 0.19%, and the NASDAQ index up 0.22%. Nvidia continues its move to the upside with a gain of 2.27% at $229.52.
Nvidia’s move above its 100 hour moving average at $220.67 has supported its recent gains. The stock reached a high of $232.28, about four dollars short of its all-time high price reached on May 14 at $236.54.
The market has reacted negatively to Alphabet’s announcement of an $80 billion equity raise, which includes a $10 billion private investment from Berkshire Hathaway. Alphabet shares initially moved sharply lower, declining to $358.44, but recovered some losses after testing the 38.2% retracement of the rally from the late-March low at $356.47.